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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: Vector1 who wrote (5290)9/10/1998 10:29:00 PM
From: Biomaven   of 6136
 
V1,

Well I've long since given up trying to explain the short-term movements of stock prices, but I'm a little skeptical that it's good news forecast for the conference that is doing it. After all, the last couple of conferences have been disastrous for AGPH, and so people are likely to be very wary.

I think it's significant that other biotechs with earnings have also been pretty strong recently - look at BGEN today, as well as AMGN and CNTO. AGPH has moved further and faster, but the huge short position would tend to magnify any sharp upward moves, as the momentum-type shorters cover.

Thanks for posting the abstracts. I agree that Viracept will continue to steal from Crix, and that Sustiva may not do much damage to Viracept in the long run. However I can't believe the street could possibly view Sustiva as a positive - this would show a level of sophistication that hasn't been demonstrated to date <G>.

Peter
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